JAKARTA. PT Polytama Propindo will issue bonds and sukuk ijarah with a total value of Rp 750 billion. The funds will be used to pay part of the company's debt.
Finance Director of Polytama, Uray Azhari, said that the debt securities that would be issued by the company consisted of bonds with a maximum value of Rp 450 billion and sukuk ijarah with a total value of Rp 300 billion. The bonds have received a 'BBB +' rating from PT Pemeringkat Efek Indonesia (Pefindo).
Uray said in a press conference on Friday (14/8) that the bonds and sukuk ijarah would each consist of three series. Series A has a tenor of 370 days and a coupon potential of 9-10%, series B with a tenor of three years with a coupon potential of 10.25% - 11.25%, and series C with a 5-year tenor and a coupon potential of 11% - 12%.
Payment of bond interest and ijarah return installments will be made every 3 months from the date of issuance. The company has set a bookbuilding period from 13 August 2020 to 25 August 2020. While the public offering is expected to take place on 1-4 September 2020 and electronic distribution of bonds and sukuk on 9 September 2020. The debt securities will be listed on the Indonesia Stock Exchange (IDX) on 10 September 2020. (AM/AR)